Zoho Invests in Manufacturing Startups to Boost Job Creation in Rural India
New Delhi: Cloud software leader Zoho announced on Saturday its undisclosed investment in manufacturing startups Karuvi and Yali Aerospace, aimed at generating employment opportunities in smaller towns and villages.
According to Zoho, these investments are part of its ongoing strategy to enhance deep-tech capabilities and manufacturing expertise within India.
“Manufacturing and technological capabilities play a pivotal role in a nation’s economic advancement. To strengthen our country in this domain, it is essential to focus on developing expertise that is currently scarce,” remarked Sridhar Vembu, CEO and Co-founder of Zoho.
Vembu added, “Karuvi and Yali are pioneering startups in their fields, contributing not only through innovation but also by fostering employment and technical skills in smaller communities, which aligns with our core philosophy.”
Established in 2022, Karuvi specializes in mechatronics and has introduced a range of 10 tools, including drills, power saws, and angle grinders. Based in Chennai, the company plans to inaugurate a manufacturing facility in Tenkasi later this year, utilizing approximately 95% locally sourced components.
“We aim to expand our product portfolio to encompass 30 tools by the end of 2025 and are actively developing a local supplier network to ensure all components are sourced domestically,” stated MSD Prasad, CEO of Karuvi.
Yali Aerospace, headquartered in Thanjavur, Tamil Nadu, focuses on aerospace innovations. Their current model can swiftly transport emergency medical supplies up to 300 kilometers within 120 minutes.
“We are engaging with the Directorate General of Civil Aviation (DGCA) to initiate a pilot project facilitating a network between hospitals, particularly in remote hilly regions where transportation poses challenges,” explained Dinesh Baluraj, CEO and Founder of Yali Aerospace.
